British luxury fashion house, Burberry has partnered with My Wardrobe HQ to establish a rental and resale business as part of the British luxury fashion house's commitment to circular fashion.
Customers can rent jackets, purses, and accessories for up to 14 days from My Wardrobe HQ, according to the new agreement, which launched today. Customers will be able to buy their rented items for a fraction of the retail price, with weekly rental fees ranging from £41 to £170. Prices for resale items will range from £111 for scarves to £750 for trench coats, which retail for £1,990.
While the legacy brand provides the majority of the inventory, the rental catalog also contains validated donations from VIP clients and the My Wardrobe HQ community. By providing 40% of proceeds from each transaction, the collaboration will benefit Smart Works, a UK organization that provides high-quality interview attire and coaching to disadvantaged unemployed women. Since 2013, the luxury brand has given merchandise to the organization.
Pam Batty, Burberry's VP of corporate responsibility, said that their cooperation with My Wardrobe HQ is complementary to their broader aim to become climate positive by 2040, promoting the ideas of a circular economy for luxury. This includes building new collaborations and revaluation solutions, as well as expanding reuse, repair, donation, and recycling methods.
The expansion into rental and resale reflects a shift in luxury firms' attitudes toward entering the fast-growing secondhand market. Aside from its attraction as a circular business model, the rental and resale market allows firms to strengthen consumer loyalty while also attracting new, younger customers wanting to invest in luxury goods.
Burberry promoted the secondhand market in 2019 through a collaboration with luxury consignment site The Realreal to promote the benefits of a circular economy for apparel. Burberry's debut into the rental market allows the premium brand to test the waters in the market, assessing production levels and recording consumer preferences while maintaining the circularity of its archival collections.
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